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ECB raises supervision fees in response to Brexit

The European Central Bank sharply increased its supervision fees for eurozone banks in 2019, largely in response to UK-based banks preparing for Brexit, it announced today (April 30).

The ECB says it will charge an estimated €576 million ($646 million) in fees in 2019, a 21% increase from the figure of €474.8 million the previous year. It says it has raised fees mainly to fund increased supervision of banks based in the UK that are either moving to the eurozone or increasing their presence in